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Transcript
Alderbrook School INVESTMENT POLICY Author: SEW Date : May 2013 Version 1 (1) Approved 16th May 2013 Review date May 2016 1 Investments may only be made in accordance with written procedures approved by the Governing Body 1. The Academy must regularly monitor cash flow and current account balances to ensure immediate financial commitments can be met and that the current account has adequate balances to meet forthcoming commitments 2. The Academy does not have an overdraft facility on any bank accounts and accounts should not be allowed to go overdrawn 3. The Academy need to identify funds surplus to the immediate cash requirements and transfer these to an account bearing a higher interest rate 4. Periodically (at least annually) review interest rates and compare with other investment opportunities 5. The Academy’s current policy is to only invest funds in risk free and easily accessible accounts 6. Any changes in the policy requires the approval of Governors via the Business Management Committee 7. Any investments must be recorded in sufficient detail to identify the investment and to enable the current market value to be calculated The information to be recorded will normally be the date of purchase, the cost and a description of the investment This policy should be reviewed by the Business Management Committee of the Governing Body. 2